SCBFF

Standard Chartered announced it will absorb Zodia Custody's regulated crypto custody business directly into the bank, while spinning out Zodia Solutions as a separate entity. The move reflects a broader trend of major banks bringing digital asset custody operations in-house rather than operating them through subsidiaries or joint ventures.

Standard Chartered has acquired a stake in crypto market maker GSR, which is valued at $1 billion in the deal. The move represents a further expansion by the UK-based bank into the digital assets space. Terms of the stake size were not disclosed in the headline.